Viewing and Offer stats Feb 2010

With the recent upsurge in activity, I am only now (2 weeks later) getting to the monthly stats for February.

Some people think that we are just “talking up the market” with reports of increased activity, but I am very clear that the much busier viewing activity is being driven mainly by reduced prices. In most cases, (certainly in those properties getting sold), prices are down 30-40% on 2006/2007 levels.

Prices are currently at around 2002-2003 levels and lower in some cases.

In any event (and to prove the case) here are the figures:

Month	Viewings	Offers
Feb 2009	43	23
Feb 2010	100	26

As you can see, Viewings are up 133%.

Offers are only marginally up, but March has seen an upsurge in offers as the time-lag between viewing and making an offer comes into play.

Signs are that March will also be well ahead of last year.

All will be known in 2 weeks time.

Hope you all had a Happy St Patrick’s Day.

Here’s to more Irish winners at Cheltenham.

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Viewing and offer figures compared 2007-2009

I know it is almost the end of January, but with snow, floods, burst pipes, failed servers and a thankfully very busy period for viewing, I am only now getting to compiling the viewing and offer figures for the end of 2009.

In doing this, I thought it might be useful to compare figures from the "boom period" and today.

With prices peaking in the six-month period at the end of 2006 and the start of 2007, here under are the figures for the last three years. They are a clear indication of the demise of the property market over that period.

2007: Viewings 1571 Offers 738

2008: Viewings 1170 Offers 411

2009: Viewings 686 Offers 290

Viewings are down 53% from peak, while offers are down (in number, not value) by 61%.

That said, despite the weather, January has been a fantastic month so far, with lots of viewings and great interest in reduced-price homes.

While there has been a lot of damage in the commercial/retail sector, landlords have reacted well in reducing rents where the tenant has a chance of surviving.

Those shops that are currently vacant are, with reduced asking rents and flexible leases, meeting good interest from successful retailers expanding and new start-ups.

This is a much more positive start to the year than January 2009, long may it continue.

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